PD Projects: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PD Projects
Largest movements
- Cash +€24,026
up €24,026 (+163%), from €14,759 to €38,786
mainly Net result for the year (+€19,024) and Receivables within one year (+€5,276)
- Receivables within one year -€5,276
down €5,276 (-26.6%), from €19,801 to €14,525
of which Trade receivables: -€3,630
- Tangible fixed assets +€1,833
new in 2025: €1,833
- Profit (loss) carried forward +€19,024
up €19,024 (+98.0%), from €19,418 to €38,442
- Other debts +€2,669
new in 2025: €2,669
- Tax, wage and social debts -€1,435
down €1,435 (-10.6%), from €13,523 to €12,088
- Gross operating margin +€1,162
up €1,162 (+4.5%), from €25,691 to €26,854
- Taxes +€849
up €849 (+16.2%), from €5,244 to €6,093
- Other operating charges +€325
up €325 (+30.7%), from €1,058 to €1,383
- Depreciation +€322
new in 2025: €322
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,260 | €56,995 | +€20,734 | +57.2% |
| Fixed assets | 21/28 | - | €1,833 | +€1,833 | |
| Tangible fixed assets | 22/27 | - | €1,833 | +€1,833 | |
| Furniture and vehicles | 24 | - | €1,833 | +€1,833 | |
| Current assets | 29/58 | €36,260 | €55,162 | +€18,902 | +52.1% |
| Amounts receivable within one year | 40/41 | €19,801 | €14,525 | -€5,276 | -26.6% |
| Trade receivables | 40 | €18,150 | €14,520 | -€3,630 | -20.0% |
| Other amounts receivable | 41 | €1,651 | €5 | -€1,646 | -99.7% |
| Cash at bank and in hand | 54/58 | €14,759 | €38,786 | +€24,026 | +163% |
| Deferred charges and accrued income | 490/1 | €1,700 | €1,851 | +€151 | +8.9% |
| Total equity and liabilities | 10/49 | €36,260 | €56,995 | +€20,734 | +57.2% |
| Equity | 10/15 | €22,418 | €41,442 | +€19,024 | +84.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,418 | €38,442 | +€19,024 | +98.0% |
| Amounts payable | 17/49 | €13,842 | €15,553 | +€1,711 | +12.4% |
| Amounts payable within one year | 42/48 | €13,842 | €15,553 | +€1,711 | +12.4% |
| Trade debts | 44 | €319 | €796 | +€477 | +149% |
| Suppliers | 440/4 | €319 | €796 | +€477 | +149% |
| Taxes, remuneration and social security | 45 | €13,523 | €12,088 | -€1,435 | -10.6% |
| Taxes | 450/3 | €13,523 | €12,088 | -€1,435 | -10.6% |
| Other amounts payable | 47/48 | - | €2,669 | +€2,669 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €322 | +€322 | |
| Other operating charges | 640/8 | €1,058 | €1,383 | +€325 | +30.7% |
| Gross operating margin | 9900 | €25,691 | €26,854 | +€1,162 | +4.5% |
| Operating profit (loss) | 9901 | €24,634 | €25,149 | +€515 | +2.1% |
| Financial income | 75/76B | €28 | €0 | -€28 | -98.4% |
| Recurring financial income | 75 | €28 | €0 | -€28 | -98.4% |
| Financial charges | 65/66B | €0 | €33 | +€33 | +327,300% |
| Recurring financial charges | 65 | €0 | €33 | +€33 | +327,300% |
| Profit (loss) for the period before taxes | 9903 | €24,662 | €25,116 | +€454 | +1.8% |
| Income taxes | 67/77 | €5,244 | €6,093 | +€849 | +16.2% |
| Profit (loss) for the period | 9904 | €19,418 | €19,024 | -€394 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,418 | €19,024 | -€394 | -2.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.